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Cullumber Company was organized on January 1, 2022, by Krystal Sommer. At the end of the first 6 months of operations, the unadjusted trial balance contained the accounts shown below.

		Debits				Credits
Cash		$ 6,880		Notes Payable		$ 16,000
Accounts Receivable		11,200		Accounts Payable		7,200
Equipment		36,000		Common Stock		17,600
Insurance Expense		2,160		Rent Revenue		41,680
Salaries and Wages Expense		24,000		Service Revenue		4,800
Supplies Expense		2,960
Advertising Expense		1,520
Rent Expense		1,200
Utilities Expense		1,360
		$87,280				$87,280

Analysis reveals the following additional data.

1.		The $2,960 balance in Supplies Expense represents supplies purchased in January. At June 30, $1,200 of supplies are on hand.
2.		The note payable was issued on February 1. It is a 9%, 6-month note. Interest is paid when the note matures.
3.		The balance in Insurance Expense is the premium on a 1-year policy, dated March 1, 2022.
4.		Service Revenue is credited when cash is received from customers. At June 30, services revenue of $1,040 remains unearned.
5.		Revenue for services performed but unrecorded at June 30 totals $1,600.
6.		Depreciation is $1,800 per year.

Prepare an income statement for the 6 months ended June 30.

Prepare a retained earnings statement for the 6 months ended June 30.

Prepare a balance sheet at June 30. (List Assets in order of liquidity.)

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